Contract with partner
My question is of a general nature. I may take up a franchise along with a partner who is going to be investing 10% only. I have not worked with any partners before, so I need some help regarding the contract. Some questions which come to mind are
1) Since I am going to be investing 90%, what should be in the contract for me to be having control in the business or rather what kind of control should I be looking for? What kind of control can my partner have?
2) In the future, if my partner wants to leave and wants to sell his 10% stake, how would we calculate how much the business is worth and how can we make it in such a way that there is no dispute? On the other side, if he wants to increase his stake, how would we go about it?
3) What other clauses should I have in the contract.